What’s the Chance of Winning Powerball in New Jersey?
As of this writing, the Powerball jackpot has reached 650 million dollars. If you're thinking about buying a ticket, you might be interested in knowing how New Jersey players have fared in the past.
The answer is pretty good. That's the good news. The bad news is that winners who bought their ticket in New Jersey, are hit with the second highest withholding percentage in the country.
The state with the highest number of Powerball winners as of April 2023 is, Indiana. Indiana has had a staggering 39 Powerball jackpot winners. Pennsylvania has had the fourth most Powerball jackpot winners with 19.
New Jersey is tied for 13th place with Washington DC. We've had 11 Powerball jackpot winners. Arkansas and Vermont are at the bottom of the list with one jackpot winner a piece. Several states don't participate in the Powerball game.
It's pretty difficult to find anything negative to say, when you're the winner of millions of dollars, but I've found one.
It probably won't surprise you to learn that New Jersey has one of the highest withholding percentages in the country.
According to a report released by Globe Live Media New York, at 10.9% has distinction of having the highest withholding rate in the country. New Jersey and Washington DC are right behind them with a rate of 10.75%.
There are a handful of states that don't withhold anything from your winnings. Those states are California, Florida, New Hampshire as well as several others.
In addition to state taxes, winnings are subject to federal withholding up to a whopping 37%.
Even with all those taxes, I think most of us could find a way to be happy, winning 650 million dollars.